Corline receives funding from the European Commission
June 07th, 2011
Swedish biotech company Corline Systems AB, a maker and distributor of CHS which is a unique and proprietary heparin coating technology for use on medical devices and for Regenerative Medicine, today announced that a consortium led by Corline has received a substantial grant from the European Commission to further develop the CHS technology for use in Regenerative Medicine.
“We are very proud to have been chosen by the European Commission in this commercialization programme, and to me the grant signals at least two things: first that Corline has a truly unique technology base and commercialization plan, and also that the Regenerative Medicine industry as such is rapidly evolving from pre-clinical phase to market launch. The coming 2 years will involve a significant step forward in developing our offering to the Regenerative Medicine industry, and I feel we have a compelling proposition in a very exciting industry space”, concludes CEO Henrik Nittmar.
The total contribution by the European Commission is 1.14 MEUR and Corline’s application was selected among more than 600 competing projects.
“This is a fantastic opportunity for Corline. The EU will render us substantial financial support for developing key commercial applications, and our technology is recognized and stands out in a very competitive landscape”, comments CEO Henrik Nittmar.
The funding is granted under the EU FP7 programme ‘Research for the benefit of the SME’. It supports a consortium consisting of 11 partners who will be working on 4 different Regenerative Medicine projects, all of which use Corline’s CHS technology to improve products destined for clinical use. The project will run during 24 months and involves a mix of pre-clinical and clinical evaluations of innovative products within cell therapy and tissue engineering. In addition to being a technology supplier to all projects, Corline will also be running a cell therapy project in the Diabetes Type 1 area.
